Is Polymarket joining the competition of stablecoins? Rumors are circulating that it will issue its own stablecoin

Planet Daily News: According to informed sources, the cryptocurrency prediction market platform Polymarket is considering the possibility of introducing its own stablecoin, in order to capture revenue from high reserves backed by USDC Circle. Currently, the platform has not made a final decision and is also considering the option of entering into a revenue-sharing agreement with Circle. Since the Polymarket ecosystem is closed, it only needs to enable exchange between USDC and its own stablecoin, avoiding the challenges related to compliance with regulations regarding "deposits and withdrawals," which makes the issuance of a stablecoin more feasible from a technological and regulatory standpoint. In light of recent U.S. regulations regarding stablecoins, their issuance has become a new source of profit for cryptocurrency companies and traditional financial institutions. During last year's elections in the U.S., the Polymarket platform recorded bets totaling $8 billion, with 15.9 million visits in May. The company is currently acquiring the American exchange QCEX to return to the U.S. market. Previously, Polymarket was the subject of civil and criminal investigations for enabling U.S. users to place bets, but the matter has since been closed.